Stonehill at West Orange, a 423-unit luxury apartment community that opened in 2024, has officially changed ownership. The transaction, brokered exclusively by BlueGate Partners, marks another milestone in the evolving New Jersey multifamily market. The development, located at 1000 Executive Drive, transformed a 400,000-square-foot former office complex into a high-end, lifestyle-driven residential community that caters to both young families and empty nesters seeking convenience, space, and amenities.
The BlueGate sales team, led by Mark DeLillo and supported by Marc Schulder, Lee Spiegelman, Felipe Marin, Eli Zaoutis, and Jeremy Silber, represented the seller in the deal. The buyer, Sentinel Real Estate, a New York City-based investment firm, acquired the property under terms that have not been publicly disclosed. DeLillo emphasized that the sale reflects the market’s continued appetite for well-positioned, amenity-rich suburban communities. “Stonehill at West Orange sets a new benchmark for luxury suburban multifamily in New Jersey,” he said.
The hilltop development spans 44,000 square feet of common areas and offers an extensive roster of amenities, including two fitness centers, sports simulators, an outdoor swimming pool, co-working lounges, private offices, game rooms, a children’s playroom, and outdoor barbecue spaces. Pet owners enjoy a dedicated dog park just steps from the residences. The community also features 816 parking spaces, private garages, a 24/7 concierge, EV charging stations, and a shuttle service to NJ Transit’s Orange Station, making it both luxurious and highly accessible.
Strategically located near the Essex Green Shopping Center, Stonehill provides residents with easy access to major transportation arteries, including I-80 and NJ-10, while being embedded in a town known for strong schools, parks, and vibrant suburban amenities. The property exemplifies the ongoing trend of adaptive reuse in New Jersey, where former commercial spaces are reimagined as residential communities to meet growing housing demand.
Broader Market Trends. New Jersey’s real estate market continues to evolve across multiple sectors, reflecting both demographic shifts and changing economic drivers. Industrial and warehouse development remains strong, driven by the ongoing growth of e-commerce. Large-scale distribution centers and warehouses are rapidly expanding in Northern and Central New Jersey, particularly in the Meadowlands and along the I-78 corridor. Notable projects include Longpoint’s 75,000-square-foot warehouse in Irvington and a 585,000-square-foot distribution center replacing a former office complex in Mount Olive.
Urban redevelopment and mixed-use projects are also reshaping major New Jersey cities. In New Brunswick, the NJEDA approved a $359 million award for a new residential and commercial tower at the HELIX campus. Jersey City continues to see high-rise residential and mixed-use development, particularly around Journal Square and The Heights, while Newark’s downtown is undergoing a renaissance, attracting young professionals drawn to its proximity to New York City and Newark Liberty International Airport.
The office market, while stabilizing, shows a growing divide between amenity-rich Class A buildings and older, less desirable properties. Many older offices are being repurposed for residential or industrial use, reflecting a broader trend of adaptive reuse across the state. Additionally, lawmakers are addressing New Jersey’s housing shortage, with legislation designed to accelerate affordable housing construction and provide incentives for municipalities that comply with state mandates.
Significant residential and commercial transactions continue to shape the market. Genesis recently acquired an industrial outdoor storage parcel in South Brunswick for $5.7 million, while a joint venture purchased the 126,000-square-foot former Casio headquarters in Morris County. In residential developments, TFE Properties is building a 141-unit apartment community in Burlington, and large-scale projects by Lennar are launching in Whippany, Hopewell, and Oakland. Retail and entertainment are also expanding, with Morristown’s Mayo Performing Arts Center planning a $65 million expansion and Garden State Plaza in Paramus adding a mixed-use “downtown” area with retail and residential components.
Despite broader economic fluctuations, demand for New Jersey housing remains strong. Home prices increased 5.9% year-over-year as of October 2025, driven by limited inventory and strong buyer demand, making it largely a seller’s market. Communities like Stonehill at West Orange illustrate the continued appeal of luxury, amenity-rich suburban living, where convenience, lifestyle, and community are seamlessly integrated.
Residents and investors seeking insights into New Jersey’s real estate developments and trends can explore additional real estate resources for updates and analysis.
